Fuel Prices to Roll Back After 2 Weeks of Increases; LPG Up

MANILA, Philippines — Diesel and gasoline prices are set to decrease by less than P1 per liter, while kerosene will become cheaper by more than P2 per liter, starting this week. This adjustment follows two consecutive weeks of price increases. The Department of Energy announced these fuel price adjustments on Monday, August 3. However, liquefied petroleum gas (LPG) will see a price hike of P3.67 per kilogram. This translates to an increase of P40.38 for a standard 11-kilogram gas cylinder. The rise in LPG prices could impact household budgets and small businesses that rely on it for cooking and operations. The previous weeks of fuel price hikes had intensified pressure from transport groups demanding higher fares. The Land Transportation Franchising and Regulatory Board (LTFRB) met earlier on Monday with representatives from seven transport groups, including those for jeepneys, UV Express vehicles, taxis, and motorcycle taxis, to discuss their fare hike petitions. As of Monday afternoon, the LTFRB had not publicly announced the outcome of the meeting, leaving the transport groups' requests unresolved. Manibela chairperson Mar Valbuena stated after the hearing that their request for a provisional fare increase could not yet be answered because "Malacañang is still making the decision." Manibela has also announced a three-day transport strike scheduled from August 10 to 12. These fuel price movements highlight the complex challenges facing the Philippine economy, including inflationary pressures, their impact on daily life, and the financial strain on the transport sector. The increase in LPG prices, in particular, signifies a rise in essential expenses for many Filipino households.